Multifamily Financing

Multi Family Loan Programs

 

Multi Family New Construction Financing

Loan Details

  • 83.3% Loan To Cost
  • Interest-only construction loan that automatically converts to 40-year permanent financing
  • 40 Year Amortization
  • 40 Year Term (no balloon)
  • No maximum loan amount
  • Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
  • “Developer’s Fee” of 10% of cost allowed to be used towards equity requirement
  • No personal liability (non-recourse)
  • Negotiable pre-payment terms
  • 1:20 Minimum Debt Service Coverage
  • This loan is always assumable
  • Third-party expenses and loan costs are financible           Apply Here

 

Multi Family Acquisition Financing

Loan Details

  • 83.3% Loan- to-Value
  • 35 Year Amortization
  • 35 Year Term (no balloon)
  • 7.5% Seller Carry Back allowed for down payment requirements
  • No maximum loan amount
  • Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
  • No personal liability (non-recourse)
  • Negotiable pre-payment terms
  • 1:20 Minimum Debt Service Coverage
  • This loan is always assumable
  • Third-party expenses and loan costs are financible           Apply Here

 

Multi Family Refinance

Loan Details

  • 83.3% Loan- to-Value (80% with cash out)
  • 35 Year Amortization
  • 35 Year Term (no balloon)
  • No maximum loan amount
  • Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
  • No personal liability (non-recourse)
  • Negotiable pre-payment terms
  • 1:20 Minimum Debt Service Coverage
  • This loan is always assumable
  • Third-party expenses and loan costs are financible           Apply Here

 

Multi Family Major Rehab Financing

Loan Details

  • 85% Loan- to-Cost
  • Interest Only Construction Loan that automatically converts to 40 year permanent financing
  • 40 Year Amortization
  • 40 Year Term (no balloon)
  • No maximum loan amount
  • Low, fixed interest rate, based on market spreads over the Ten-Year Treasury Yield
  • “Developers’s Fee” of 10% of cost allowed to be used towards equity requirement
  • No personal liability (non-recourse)
  • Negotiable pre-payment terms
  • 1:20 Minimum Debt Service Coverage
  • This loan is always assumable
  • Third-party expenses and loan costs are financible           Apply Here

 

Mobile Home Park Acquisition Financing

Loan Details

    • Loan Amount: Minumum: $5,500,000
    • Maximum Loan To Cost: 90% (*1)
    • Rate: 5.25% Fixed (*2)
    • Term: 40 Years (No Balloon)
    • Amortization: 40 Years
    • Transaction Cost : Other Cost – Budget (*3%)
    • Recourse: None
    • Assumable: Yes with 1% assumption Fee​

      Long term, fixed rate, no balloons, non-recourse and assumable.

(*1) Actual gross loan amount will be based on 90% of costs, 1:35 DSC and other considerations. All net loan proceeds must be used to retire current debts, pay financing costs and fund reserves, in addition to all hard and soft costs.

(*2) Note rate depends on market conditions at time of rate lock.

(*3) Budget costs will vary with each individual loan. Includes borrower’s costs for legal, audit, survey, title, recording charges, lender’s legal counsel, etc. Transaction costs are normally reimbursed out of loan proceeds. Initial set asides are funded out of loan proceeds. Borrower must make annual contributions to reserves. Borrower prepays one year’s mortgage insurance at closing.           Apply Here